17 September 2020
Bahamas Petroleum Company plc
("BPC" or the "Company")
Exercise of Share Options
BPC, the Caribbean and Atlantic margin focused oil and gas company, with exploration, production, appraisal and development assets across the region, notes that it has received notification for the exercise of share options in respect of 6,170,982 ordinary shares of 0.002p each in the capital of the Company by a former employee of Columbus Energy Resources PLC. As previously announced, the exercise price in connection with these share options is 0.002p per share.
Application has been made for the shares to be admitted to trading on AIM ("Admission"), and Admission is expected to occur on or about 18 September 2020. These shares will rank pari passu with the ordinary shares of the Company in issue.
The Company's total issued share capital, following the issue of the shares, will comprise of 3,414,378,640 ordinary shares. As the Company does not hold any shares in Treasury, this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company following Admission.
For further information, please contact:
Bahamas Petroleum Company plc
Simon Potter, Chief Executive Officer
Tel: +44 (0) 1624 647 882
Strand Hanson Limited - Nomad
Rory Murphy / James Spinney / Jack Botros
Tel: +44 (0) 20 7409 3494
Shore Capital Stockbrokers Limited - Joint Broker
Jerry Keen / Toby Gibbs
Tel: +44 (0) 207 408 4090
Investec Bank Plc - Joint Broker
Chris Sims / Rahul Sharma
Tel: +44 (0) 207 597 5970
Billy Clegg / James Crothers / Hugo Liddy
Tel: +44 (0) 20 3757 4983
Notes to editors
BPC is a Caribbean and Atlantic margin focused oil and gas company, with a range of exploration, appraisal, development and production assets and licences, located offshore in the waters of The Bahamas and Uruguay, and onshore in Trinidad and Tobago, and Suriname. BPC is currently on-track for drilling an initial exploration well in The Bahamas, Perseverance #1, in late 2020 / early 2021, with the well targeting recoverable P50 prospective oil resources of 0.77 billion barrels, with an upside of 1.44 billion barrels. In Trinidad and Tobago, BPC has five producing fields, two appraisal / development projects and a prospective exploration portfolio in the South West Peninsula. BPC's exploration licence in Uruguay is highly prospective, with a potential resource of 1 billion barrels of oil equivalent. In Suriname, BPC has an onshore appraisal / development project.
BPC is listed on the AIM market of the London Stock Exchange. www.bpcplc.com
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